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and health care benefits until the fiscal cliff is resolved. the petition has gotten more than 11,000 signatures. but 25,000 are needed to get a white house response. >>> a yale professor compiled the list of the best political quotes of the year. he has mitt romney's comments on the 47% as number one. number two was -- can you guess -- binders full of women. yep. president obama got the third spot with his "he didn't build that." >>> and a monkey wearing a wool coat and a diaper shocked shoppers at an ikea store in toronto. the animal escaped from a car, and its owner is facing charge for having an animal banned by canadian law. he's so cute, isn't he? >>> stocks kick off the week with the dow at 13,155 after climbing 81 points friday. the s&p up four, and the nasdaq fell 11. overseas, the nikkei gained six points while the hang seng climbed 85. >>> wall street is watching for any new fiscal cliff developments. the folks at fedex will be hustling and bustling on their busiest day of the year. the shipping giant expects to make about 19 million
and health care benefits until the fiscal cliff is resolved. the petition has gotten more than 11,000 signatures. but 25,000 are needed to get a white house response. >>> a yale professor compiled the list of the best political quotes of the year. he has mitt romney's comments on the 47% as number one. number two was -- can you guess -- binders full of women. yep. president obama got the third spot with his "he didn't build that." >>> and a monkey wearing a wool coat...
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>> we only have ten dates to fix this fiscal cliff because congress officially leaves a week from friday. they only work until a week from friday so the market will start to get nervous that we don't have an agreement of we don't get it by next week so i expect to see volatility creep back into this otherwise selling market towards the middle of next week because we all know negotiating styles are such that you won't get a resolution to the last minute. markets are going to shoot one warning shot across the bout of congress and the president before all is said and done. liz: if you stretch this out a year this is unbelievably low so sure you are not saying traae the vix or by edfs that involved in the vix. what is the smart money doing right now? >> it is looking at two trade. if you want to own stocks and an end of the year protectors of that buying chief put options anticipating a pickup in volatility and not having to ride the volatility in your portfolio. the second strategy is to buy some cheap call options. as we go to the end of the year everybody expects one final rally once we g
>> we only have ten dates to fix this fiscal cliff because congress officially leaves a week from friday. they only work until a week from friday so the market will start to get nervous that we don't have an agreement of we don't get it by next week so i expect to see volatility creep back into this otherwise selling market towards the middle of next week because we all know negotiating styles are such that you won't get a resolution to the last minute. markets are going to shoot one...
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Dec 7, 2012
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. >> is the administration prepared to go over the fiscal cliff? >> absolutely. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes, i will not play that game. >> he's the last person who should have limitless borrowing power. look, the only way we ever cut spending around here is by using the debate over the debt limit to do it. >> joining me now is nbc's senior political editor, mark murray. we've heard a lot about this idea of decoupling the tax cuts where the house would pass two girls, one for the middle class and one for top earners leaving it up to the senate to reject the tax cut for the rich. is that idea really on the table at this point? >> craig, that decoupling is what the white house and democrats do want. there does seem to be an indication and all the signs point to at the end of the day republicans in some form or fashion might end up budging on floo that front. you played a bunch of clips of republicans and democrats engaging in a lot of posturing and pr. a lot influences the public in t
. >> is the administration prepared to go over the fiscal cliff? >> absolutely. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes, i will not play that game. >> he's the last person who should have limitless borrowing power. look, the only way we ever cut spending around here is by using the debate over the debt limit to do it. >> joining me now is nbc's senior political editor, mark murray. we've heard a lot about this...
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Dec 7, 2012
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the president has asked the american people to put pressure on congress to accept a deal in fiscal cliff negotiations. the white house is pulling out all stops and cranking up the social media campaign. president obama has been encouraging supporters to tweet with the #my2k, explaining what a $2,000 tax increase would mean for them and their families. the white house reports the hash tag has appeared in over 275,000 tweets with twitter seeing more than 18,000 tweets per hour add its peak. the road show coupled with the social media campaign is unprecedented. this is the kind of effort that helped president obama win a second term. now we'll see if his grassroots army can convince republicans to do what's right by the american people. i'm joined tonight by democratic strategist donna gentile-o'donnell and msnbc political analyst and georgetown university professor, michael eric dyson. great to have you with us tonight. >> thank you. >> i just want to go right to this poll. this quinnipiac poll was released today, and it shows the majority of the american people want tax rates to go up for
the president has asked the american people to put pressure on congress to accept a deal in fiscal cliff negotiations. the white house is pulling out all stops and cranking up the social media campaign. president obama has been encouraging supporters to tweet with the #my2k, explaining what a $2,000 tax increase would mean for them and their families. the white house reports the hash tag has appeared in over 275,000 tweets with twitter seeing more than 18,000 tweets per hour add its peak. the...
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Dec 5, 2012
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they're very concerned about having to pay more taxes just because congress can't end this fiscal cliff fiasco. >> you might have misunderstood the question. what do you think the mom kz do? what do you think, you know, families can do or should be doing to try to help the situation, obviously, because you've got some people who argue, well, you know, maybe there ought to be major cuts when it comes to medicare or medicaid or reforming social security, that kind of thing? >> well, we absolutely 1150% are hearing from moms across the country that it is not the time to cut medicaid. it is not the time to cut medicare or social security. one in three kids are receiving their health care through medicaid, and so we don't want to see any kind of bargaining or putting on the table of anything that takes health care away from kids because, guess what, that does not help taxpayers in the long run. when we don't give kids the care they need, we end up autosing more taxpayer dollars in the long run to fix later health strobz. we heard stories from people like ann who shared her 4-year-old son has
they're very concerned about having to pay more taxes just because congress can't end this fiscal cliff fiasco. >> you might have misunderstood the question. what do you think the mom kz do? what do you think, you know, families can do or should be doing to try to help the situation, obviously, because you've got some people who argue, well, you know, maybe there ought to be major cuts when it comes to medicare or medicaid or reforming social security, that kind of thing? >> well,...
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Dec 8, 2012
12/12
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fiscal cliff. if you listened to speaker boehner yesterday he is reading reports that the president is trying to slow walk this thing. listen to the speaker. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> there are a lot of things that are possible to put the rev that the president seeks on the table, but nope of it is going to be possible. the president insists on his position. insists on my way or the highway. that's not the way to get to an agreement that i think is important for the american people and very important for our economy. >> there you go. so that's what speaker boehner's office is saying. they had a phone call on thursday. but people wondering if they are not even talking at all anymore. >> he said this is no way to an agreement there should be compromise. if you are elected official you should represent all of the united states and you should compromise and hear both sides. >> i think you should
fiscal cliff. if you listened to speaker boehner yesterday he is reading reports that the president is trying to slow walk this thing. listen to the speaker. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> there are a lot of things that are possible to put the rev that the president seeks on the table, but nope of it is going to be possible. the president insists on his position. insists on my way...
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Dec 6, 2012
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the day started with -- on the fiscal cliff. no real progress made. in fact, one thing we want to talk to congresswoman donna edwards about is the fact that congress is so not happening right now and negotiations so not happening that congress -- members of congress went home last night. president obama very much on the case, went out yesterday morning to meet with members of the business roundtable and he told members of the roundtable first of all that they -- there's absolutely part of the equation has to be raising rates on the top 2% of americans. without that there won't be any deal. president obama with the business roundtable. >> any formula that says we can't increase tax rates probably only yields about $300 to $400 billion realistically. that's well short of the amount of revenue that's needed for a balanced package. >> bill: just won't cut it. the president said. he also appeared yesterday morning on tom joyner's radio show. and said if you want a deal, if you want a compromise, there's only one way to get there and that's the one thing mi
the day started with -- on the fiscal cliff. no real progress made. in fact, one thing we want to talk to congresswoman donna edwards about is the fact that congress is so not happening right now and negotiations so not happening that congress -- members of congress went home last night. president obama very much on the case, went out yesterday morning to meet with members of the business roundtable and he told members of the roundtable first of all that they -- there's absolutely part of the...
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not getting rid of the uncertainty around the fiscal cliff. think about what we are doing with retail sales right now with the christmas season. the most important part of the whole year. people are holding back because they do not know what will happen with their tax rates. as soon as we can get a deal done, frankly, a $4 trillion deal over ten years would do more for job growth, quite honestly, for then anything governor romney or president obama talked about during the campaign. connell: you are really the leader of this. the gang of six and morphed into a bigger group. do you feel as involved now or are you somehow kind of saying to yourself, boy, i do not have a say at all anymore. >> is it that obvious on my face? it is pretty darn frustrating. i have spent two and a half years. there is a large overwhelming majority ready to do their part. i have been in a lot of negotiations over my business career. too many cooks in the kitchen making this. i can tell you this much, there is an awful lot of us who are willing to vote and give ideas to
not getting rid of the uncertainty around the fiscal cliff. think about what we are doing with retail sales right now with the christmas season. the most important part of the whole year. people are holding back because they do not know what will happen with their tax rates. as soon as we can get a deal done, frankly, a $4 trillion deal over ten years would do more for job growth, quite honestly, for then anything governor romney or president obama talked about during the campaign. connell: you...
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Dec 6, 2012
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cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks to go before a potentially devastating and entirely avoidable blow to the economy, the president proposed a plan that members of his own party won't even vote for. so i think it's safe to say at this point that the president actually isn't interested in a balanced agreement, he's not particularly interested in avoiding the fiscal cliff, and he's clearly not interested at all in cutting any spending. what the president is really interested in, as we learned just yesterday, is getting as much taxpayer money as he can, first, by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's contefnlts for months the president has been saying all he wants is to raise taxes on the top 2% so he can tackle the debt and the deficit. however, yesterday he finally revealed that's not really his true intent. by demanding the power to raise the debt limit w
cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks to go before a potentially devastating and entirely avoidable blow to the economy, the president proposed a plan that members of his own party won't even vote for. so i think it's safe to say at this point that the president actually isn't interested in a balanced agreement, he's not particularly interested in avoiding the fiscal cliff, and he's clearly not interested at...
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after that look of the status of the so-called fiscal cliff negotiations between congress and the white house. >>
after that look of the status of the so-called fiscal cliff negotiations between congress and the white house. >>
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caller: the fiscal cliff and are 100 trillion dollar debt, mostly it's the fault of the american people. i blame congress in general for not having the courage to tell us the truth, but it is the american people who don't want to deal with that is essentially forcing this thing. host: 1 cumene? hat do you mean? caller: we have unsustainable debt. it has to be reformed. for decades we have been electing politicians will tell us what we want to hear, but we cannot pay for the programs we want. until the american people themselves can deal with the truth, we're not going to solve this. contacting our politicians, offering sacrifice of the programs we like is the only solution. until then, politicians will not have the courage to cut the programs that we simply tell them not to touch. host: here is the editorial in the wall street journal this morning -- rick? caller: it's like a bar tab. we are the runs that ran up the bartec. our grandchildren will ultimately have to pay it until we realize we have to stop drinking and start paying the bill, nothing will happen. host: what should happen t
caller: the fiscal cliff and are 100 trillion dollar debt, mostly it's the fault of the american people. i blame congress in general for not having the courage to tell us the truth, but it is the american people who don't want to deal with that is essentially forcing this thing. host: 1 cumene? hat do you mean? caller: we have unsustainable debt. it has to be reformed. for decades we have been electing politicians will tell us what we want to hear, but we cannot pay for the programs we want....
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Dec 5, 2012
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to the fiscal cliff has been found. i thank the gentleman and yield back. mr. hoyer: i thank the gentleman for his comments. i thank him for the early notice on next friday. mr. speaker, the house is still not in order. the speaker pro tempore: the house will come to order. mr. hoyer: i thank the speaker. first, mr. leader, if i could, we have the ending next thursday, so -- i want to clarify pour members so that they know. we will not be in session next friday. is that accurate? mr. cantor: mr. speaker, i'd say to the gentleman, that is correct. mr. hoyer: thank you for that information. i also want to congratulate the gentleman for providing for the week of the 17th. i know none of us want to do that but i appreciate the majority's focus on the business that has not been done. i also appreciate the gentleman's focus on the fiscal cliff and indicating that we need to resolve that prior to leaving the 112th congress. i think those are both positive announcements. i applaud him for that. on the fiscal cliff, we discussed
to the fiscal cliff has been found. i thank the gentleman and yield back. mr. hoyer: i thank the gentleman for his comments. i thank him for the early notice on next friday. mr. speaker, the house is still not in order. the speaker pro tempore: the house will come to order. mr. hoyer: i thank the speaker. first, mr. leader, if i could, we have the ending next thursday, so -- i want to clarify pour members so that they know. we will not be in session next friday. is that accurate? mr. cantor:...
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avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between congress and compromise. it's time for them to prove to american families that they're more interested in protecting the medal class than pleasing the tea party. mr. president, on another subject, i rise to honor our colleague, the senior senator from nebraska, ben nelson, upon his retirement from the united states senate, to become effective after the first of the year. for 12 years senator nelson has been a valued member of the democratic caucus and an exemplary senator for nebraska and the country. but his life in public service leads back to his youth. he spent his college days serving his nebra
avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between...
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Dec 3, 2012
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president obama and republicans in congress are digging in their heels on the fiscal cliff. who will blink first on this game of political chicken. we'll ask our power panel about that. and allison schwartz me as well. mitt romney licking his wounds over an election loss he thought would never happen. hats next for him and why he's not interested in hoping to remake the republican party. plus a bittersweet victory for the kansas city chiefs as the team and its fans try to come to grips with the senseless tragedy, what drove jovan belcher to kill his girlfriend and then himself. [ female announcer ] a classic meatloaf recipe from stouffer's starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is
president obama and republicans in congress are digging in their heels on the fiscal cliff. who will blink first on this game of political chicken. we'll ask our power panel about that. and allison schwartz me as well. mitt romney licking his wounds over an election loss he thought would never happen. hats next for him and why he's not interested in hoping to remake the republican party. plus a bittersweet victory for the kansas city chiefs as the team and its fans try to come to grips with the...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am on the naughty list again? ho ho ho! but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot fr
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells,...
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what was happening almost 100 years ago, maybe 99, back in 1933 -- we faced a fiscal cliff. they could no longer pay the deficits. they were paying for the wars we were fighting. congress introduced the federal income tax. the federal reserve when from that. it was about taxing the wealthy. i had not considered this. that's no question president obama has a socialist leanings. he wants to redistribute wealth. i do. new line-- once this debate is over, the president may have a large agenda. that agenda is that the president wants a wealth tax. that would be different. it was all about it, in 1913. the president wants say wealth tax. that means you tax their assets and not their income. he talked about how mitt romney had these accounts of sure. if the tax the wealth of an individual, then they cannot do this by saying i want to have a wealth tax. he has to negotiate with republicans and couple it with a flat tax. we have to overhaul our tax system. i think that is what the president's intentions are. host: when is your review show broadcast -- when is your radio show broadcas
what was happening almost 100 years ago, maybe 99, back in 1933 -- we faced a fiscal cliff. they could no longer pay the deficits. they were paying for the wars we were fighting. congress introduced the federal income tax. the federal reserve when from that. it was about taxing the wealthy. i had not considered this. that's no question president obama has a socialist leanings. he wants to redistribute wealth. i do. new line-- once this debate is over, the president may have a large agenda. that...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. want to trto crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share wi
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. want to trto crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who...
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Dec 6, 2012
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the fiscal cliff. >>> now no john mcafee. the millionaire software guru wanted in questioning in the neighbor's murder in belize. maybe you heard mcafee. got arrested in guatemala overnight. shouldn't come as much of a surprise here. the whole time supposedly on the run, he was handing out tv interviews like candy. but listen to this. now the mcafee is in jail, he is blogging from behind bars. the story just keeps getting more interesting, shall we say? more on the blogging here in a moment. but first, i have to play you this video. this is the video of his arrest. surprise-surprise. he was with a camera crew from vice.com when guatemalan police took him in. the charge, entering that country illegally. take a look here. exclusive video of vice.com. >> they're trying to arrest me. guatemalan jails have beds. >> john, where are you going? >> to jail. >> when will you be out? >> and off he goes. to think, just yesterday, mcafee was telling us he was seeking asylum in guatemala. been on the run since 10th
the fiscal cliff. >>> now no john mcafee. the millionaire software guru wanted in questioning in the neighbor's murder in belize. maybe you heard mcafee. got arrested in guatemala overnight. shouldn't come as much of a surprise here. the whole time supposedly on the run, he was handing out tv interviews like candy. but listen to this. now the mcafee is in jail, he is blogging from behind bars. the story just keeps getting more interesting, shall we say? more on the blogging here in a...
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Dec 4, 2012
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can avert the fiscal cliff. shortly after the election, the house republican leadership presented the president with a balanced framework of coupling spending come cutlers and reforms. it also states, quote, regrettably the proposal outlined on behalf of your administration contains very little in the way of common ground. the proposal calls for a $1.6 trillion in new tax revenue, twice the amount you supported during the campaign. end of quote. house republicans understand the necessity of finding a reasonable solution. we have made it very clear, we're willing to work with the senate leadership to find middle ground legislation. it is my hope the president will begin these -- taking these negotiations seriously and work with the house republicans to find a balanced approach to this challenge. in conclusion, god bless our troops and we will never forget september 11 and the global war on terrorism. the speaker pro tempore: the gentleman from south carolina yields back. for what purpose does the gentleman from o
can avert the fiscal cliff. shortly after the election, the house republican leadership presented the president with a balanced framework of coupling spending come cutlers and reforms. it also states, quote, regrettably the proposal outlined on behalf of your administration contains very little in the way of common ground. the proposal calls for a $1.6 trillion in new tax revenue, twice the amount you supported during the campaign. end of quote. house republicans understand the necessity of...
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. >>> 25 days and counting until america dives off that fiscal cliff. in just a few minutes, the president makes his point of the day by visiting a middle class family to talk about tax cuts. >>> and on the hill, some members of congress left d.c. yesterday. we showed you the footage. they're on a long weekend. but key players are still there trying to hammer out a deal. eamon javers is on capitol hill with the latest on the negotiations for us. hi, eamon. >> hi, sue. just within the past couple of minutes here we've had a very high-stakes scuffle on the senate floor over the president's proposal to have unilateral authority to raise the nation's debt ceiling all on his own for the most part. mitch mcconnell, the republican leader, offered up the opportunity for the senate to have a vote on that. democrats said they would love to take him up on that. they say they have the votes to pass it at a 50-vote threshold. just within the past couple of seconds, mcconnell has said, no, in fact what he wants to see is a 60-vote threshold for that. it looks like th
. >>> 25 days and counting until america dives off that fiscal cliff. in just a few minutes, the president makes his point of the day by visiting a middle class family to talk about tax cuts. >>> and on the hill, some members of congress left d.c. yesterday. we showed you the footage. they're on a long weekend. but key players are still there trying to hammer out a deal. eamon javers is on capitol hill with the latest on the negotiations for us. hi, eamon. >> hi, sue....
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a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where would the chinese a their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down th numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. but will it damage your gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 198
a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where would the chinese a their economy be if it...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? ♪ lou: 31 days unl the fiscal clef, the threat of sequestration largely being ignored. automatic spending cu
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your...
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broadly described under the umbrella of the terminology, fiscal cliff. when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal cliff would jeopardize the economic recovery. it would do that by increasing taxes on families, halting employment growth, driving unemployment up instead of down, triggering a deep cuts to programs that families across the country count on. the job before the united states congress is to reach an agreement that builds on the economic progress that we are making, and puts us on a path to fiscal stability. we need to cut more spending, and generate more revenue. we need to do it in a smart way that keeps our economy growing. earlier this year, congress extended the payroll tax cut through 2012. the two perce
broadly described under the umbrella of the terminology, fiscal cliff. when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal cliff would jeopardize the economic...
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Dec 6, 2012
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convening a significant fiscal cliff hearing today. so we have that going for us. and before he heads there, one of the experts testifying will join us next. first as we led to break, check out what's trending on yahoo! right now. leading the way, susan luckey dies. best known for playing in the music man. she's dead at age 74. made a commitment to the gulf.p bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> the u.s. equity futures are indicated a little higher this morning after the gains we saw yesterday at least for the dow. the nasdaq and s&p 500 gave up some ground because of the losses with apple, but this morning moderate green arrows. in our headlines, adults can now legally b
convening a significant fiscal cliff hearing today. so we have that going for us. and before he heads there, one of the experts testifying will join us next. first as we led to break, check out what's trending on yahoo! right now. leading the way, susan luckey dies. best known for playing in the music man. she's dead at age 74. made a commitment to the gulf.p bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open,...
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Dec 4, 2012
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that envisions dealing with the fiscal cliff and the deadlines we face at the end of the year but also recognizes that broader entitlement reform, broader tax reform would probably take more than the few weeks we have remaining here at the end of the year and that should be part of a process next year. but rates are going up, they have to go up. it's part of what we have to do in dealing with deficit reduction. he will not accept a deal that has specific cuts in spending, specific cuts in entitlement programs that asks middle class americans, seniors, college students who need loans, families with disabled children, to sacrifice, to pay a price, on the one hand and the promise, the vague promise, the unspecified promise of some magical revenue that will appear from wealthier americans in the future. that is not a deal this president will sign. >> i understand the process and what the white house is looking for from republicans but in asking about the president, is it his position that the top tax rate has to go to 39.6%? >> he will not sign an extension of the bush era tax cuts for wea
that envisions dealing with the fiscal cliff and the deadlines we face at the end of the year but also recognizes that broader entitlement reform, broader tax reform would probably take more than the few weeks we have remaining here at the end of the year and that should be part of a process next year. but rates are going up, they have to go up. it's part of what we have to do in dealing with deficit reduction. he will not accept a deal that has specific cuts in spending, specific cuts in...
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let's listen to what he had to say about the fiscal cliff. >> congress can avoid all of this bypassing a law that pass as tax hike on the first $250,000 on everybody's income. that means 90% of americans and 90% of small businesses wouldn't see their income taxes go up by a single dime. even the wealthiest americans would get tax cuts on the first $250,000 of their income. and families everywhere would enjoy some peace of mind. >> clayton: i think that republicans agree and a number of republicans say this, they're in a poor bargaining position. they he lost the election and polls show most americans agree with the president's position on tax hikes. furthermore, if this fiscal cliff happened 23 days from now, the president, if he doesn't do anything, those bush tax cuts expire, no negotiation at all. the bush tax cuts expire and the defense cuts go into place if the president basically doesn't return phone calls. >> speaking of polls, a lot of polls show if that happens, the republicans will be blamed for it, not the president. >> clayton: like 1995 all over again. >> mike: exactly. so
let's listen to what he had to say about the fiscal cliff. >> congress can avoid all of this bypassing a law that pass as tax hike on the first $250,000 on everybody's income. that means 90% of americans and 90% of small businesses wouldn't see their income taxes go up by a single dime. even the wealthiest americans would get tax cuts on the first $250,000 of their income. and families everywhere would enjoy some peace of mind. >> clayton: i think that republicans agree and a number...
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fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest said, wholesale inventory number. you have to watch that, if you start to see a long-term trend where the companies are building inventories, that's something more ominous to the economy. the small business index coming out tomorrow. that, of course, should show a gradual increase in its pace. and the federal reserve is starting their meetings tomorrow, so, for wednesday, we're expecting an additional $40 billion every month of additional treasury purchases to take place on the operation twist. >> jennifer, 30 seconds. what do you see tomorrow? >> yeah, we
fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest...
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avoid the fiscal cliff and another recession. host: for that to happen, something has to happen this week? guest: not this week but every day that so little gets done raises the chance it will go wrong. i worry about that a lot. guest: it is a small deal, they can do something quickly. it may not require even a roll- call vote. to do the big deal, they did not have enough time to do the big deal when congress reconvenes on november 13. host: final word? guest: i think it is time to talk about the spending side. look at anyone trying to run a federal agency and they are being told the budget will be cut at 14% across the board beginning january 2. this is a ridiculous way to run a country. host: douglas holtz-eakin is the former director of the congressional budget office. stancollander thank you both for being with us. we will take a closer look of some of those special interest groups that are lobbying on behalf of what may happen with the so-called fiscal cliff. later, we will turn our attention to what is next for the u.s. and
avoid the fiscal cliff and another recession. host: for that to happen, something has to happen this week? guest: not this week but every day that so little gets done raises the chance it will go wrong. i worry about that a lot. guest: it is a small deal, they can do something quickly. it may not require even a roll- call vote. to do the big deal, they did not have enough time to do the big deal when congress reconvenes on november 13. host: final word? guest: i think it is time to talk about...
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Dec 5, 2012
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the fiscal cliff glasgows from being half full to half empty that's where we want it, and once it's half empty, it's much more immune to disappointment. that's because those hoping for a deal will be gone. checked out, sold. replaced by three types of strongholders. get this. first like when the debt ceiling was raised. a move that countered for a huge chunk of the markets. these people believe that some kind of deal is inevitable. they think selling now is tantamount to giving up the bottom. the second set. they feel it won't have much of an impact on the economy. they believe we won't go into recession and the whole thing is over, done. mellow drama even. they think fearmongers. and this is their group of strong holders. a little time passes, they think, hey, should be better off going over the cliff. rich will pay more of their fair shares and higher taxes on dividends. government spending sliced where it should be and and the bloated defense budget. unnecessary social programs. me? i think we aren't where we need to be yet when the it comes to abandoning all the hope. i think the pos
the fiscal cliff glasgows from being half full to half empty that's where we want it, and once it's half empty, it's much more immune to disappointment. that's because those hoping for a deal will be gone. checked out, sold. replaced by three types of strongholders. get this. first like when the debt ceiling was raised. a move that countered for a huge chunk of the markets. these people believe that some kind of deal is inevitable. they think selling now is tantamount to giving up the bottom....
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this 100th of congress plus it puts the fiscal cliff and place right now and you lay it out i'm sorry, count me out. stacte want to take the first question? >> you raise a good point. this is where people's eyes glaze over. they can say whatever you want them to say. but the notion, i do think that there's been to the relationship between revenues and the titles and if we want to go bigger the better we need to push all of those, the smaller unit and the less you do on the other side, but there are some who say the idea of the american public is going to buy into this notion okay we are going to look devotees taxes go up so everything can be returned in a tax cut, and we go through this magical power. they are going to think 90% of the approval. so, you're going to have a general consensus. you do this year to get 500 of that in the interest savings alone. this should not be as challenging as it is. >> the other thing i would disagree about is the fact and i have been a huge jet kit and continue to be a huge advocate of tax reform debate and it's a critically important piece and i do
this 100th of congress plus it puts the fiscal cliff and place right now and you lay it out i'm sorry, count me out. stacte want to take the first question? >> you raise a good point. this is where people's eyes glaze over. they can say whatever you want them to say. but the notion, i do think that there's been to the relationship between revenues and the titles and if we want to go bigger the better we need to push all of those, the smaller unit and the less you do on the other side, but...
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act, even looking at what's going on with the fiscal cliff right? are we going to balance our budget by lessoning lessening the support to those with disability or focus on those at the top 1%. this trend is ongoing and i hope it doesn't continue. the bipartisan tradition around disability is longstanding, and i think it's mourn. it's one of those few issues that traditionally both republicans and democrats can agree on, and i hope we can get back to that point. a lot of work need to be done in the republican party for us to get there. >> eliot: your point is so well taken. there should be no disagreement about extending rights to those with disabilities. this is not a partisan issue. it has not been historically a partisan issue. whom will you call? where will you begin when you go and reach out to the republican party and say guys, go back to your roots. you just lost an election because of the narrowness of your vision. expand it. who will you talk to? >> you know what? i will talk to everyone and anyone who will listen. we work he very closely w
act, even looking at what's going on with the fiscal cliff right? are we going to balance our budget by lessoning lessening the support to those with disability or focus on those at the top 1%. this trend is ongoing and i hope it doesn't continue. the bipartisan tradition around disability is longstanding, and i think it's mourn. it's one of those few issues that traditionally both republicans and democrats can agree on, and i hope we can get back to that point. a lot of work need to be done in...
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cliff. and i know you know that already, but guess what, folks? the deadline for congress and the white house to act, to stop the tax increase and punishing spending cuts, that deadline is coming up quicker than you may realize because did you know, congress plans to end its current session on december 21st? check your calendar as we did today. that's two weeks from friday. that means that under congressional rules any agreement, any legislation to fix this whole mess would have to be filed here by december 28th. here's the kicker. the president currently plans to leave town the day before that, on the 17th of this month. so the yearly obama trip to hawaii is set to start a week from next monday. you feel me here? see where i'm going? the window closing faster than folks think. what are our decisionmakers doing right now? among other things they are apparently sending signals through the media. republicans saying time to get moving. the president saying there is a deal to be had fairly quick
cliff. and i know you know that already, but guess what, folks? the deadline for congress and the white house to act, to stop the tax increase and punishing spending cuts, that deadline is coming up quicker than you may realize because did you know, congress plans to end its current session on december 21st? check your calendar as we did today. that's two weeks from friday. that means that under congressional rules any agreement, any legislation to fix this whole mess would have to be filed...
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congress had trouble putting together a deal. now the u.s. may be heading for the fiscal cliff. what does that mean for you and your investments? we have the jobs report today for a brief moment. we weren't worried about the fiscal cliff. now, we are back. what do you make of it? >> the jobs report was okay. there are some signs of very modest improvement in jobs. the good news is we have not really lost momentum and i will put that in the victory column. from a very short-term perspective, it is the fiscal cliff that is on everyone's mind. consumer sentiment is starting to decline. that suggested everyone seems to be focused on the fiscal cliff. when you are focused on uncertainty, what do you do, you do nothing. those are the major implementations for the economy. cheryl: i can hear the hesitancy in your voice. a lot of our guests are saying the same thing. they are afraid of what washington will do or maybe not do. your outlook is a bit more bullish than some of your colleagues. what are you saying in the second half of 2013 that others are not? >> on a very short-term basis,
congress had trouble putting together a deal. now the u.s. may be heading for the fiscal cliff. what does that mean for you and your investments? we have the jobs report today for a brief moment. we weren't worried about the fiscal cliff. now, we are back. what do you make of it? >> the jobs report was okay. there are some signs of very modest improvement in jobs. the good news is we have not really lost momentum and i will put that in the victory column. from a very short-term...
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keep in mind they're the ones trying to do the deal here to avert this fiscal cliff. the tax hikes, the spending cutting scheduled for the first of the week now. join ming me from washington is senator olympia snowe. are you hearing -- what might you be hearing between the president and spirit? >> i think it is optimistic in the sense that at least they have met once again because i think that that is going to be crucial and central to any resolution, to the fiscal cliff crisis. and the more they meet and more that they have these lines of communications opened on a daily basis and their staffs are meeting, the more likely we'll see a conclusion to this issue. but it is regrettable that it is this late in the day, given the uncertainty and the apprehension that it continues to create among the american people, and, of course, both within the markets here and abroad. but i think it is hopeful that they have begun to meet and have some discussions because i think we can breathe a sigh of relief that the lines of communication are open. >> are you breathing that sigh of
keep in mind they're the ones trying to do the deal here to avert this fiscal cliff. the tax hikes, the spending cutting scheduled for the first of the week now. join ming me from washington is senator olympia snowe. are you hearing -- what might you be hearing between the president and spirit? >> i think it is optimistic in the sense that at least they have met once again because i think that that is going to be crucial and central to any resolution, to the fiscal cliff crisis. and the...
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cliff." the deadline for the president and congress to find a way to avoid tax increases and spending cuts is 25 days away. president obama made a special point to sit with a middle class family in virginia this afternoon. he was trying to offer an example of who would be hurt by the republican tax proposal. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives the sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to chose tax loopholes and limit some deductions. they say the president needs to deliver a new plan that they can agree on and soon. it's also important to note that congress is scheduled to adjourn december 21st and the president is supposed to be headed to hawaii for vacation on december 17. >>> after doing some downsizing starbucks is back to brewing up some expansion plans and that includes another san francisco store. at market and sanchez. cbs 5 rep
cliff." the deadline for the president and congress to find a way to avoid tax increases and spending cuts is 25 days away. president obama made a special point to sit with a middle class family in virginia this afternoon. he was trying to offer an example of who would be hurt by the republican tax proposal. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives the sense of the costs involved in very personal...
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we're days from falling off the fiscal cliff and the congress is blaming for inaction. >> it's unacceptable to hold the middle tax cuts hostage simply because they refuse to let the tax rates go up on the wealthiest americans. >> the republicans call this a bait and switch. >> alisyn: we'll debate. >> dave: one massachusetts town rolling out the welcome mat to long islanders for christmas tree lighting after the they refused to budge on the holiday event. the p.c. please. >> should you tip your garbage collector or how about your child's teacher? we have tips for tipping or the barista at starbucks. >> dave: no! sorry, ladies and gentlemen. >> "fox & friends" begins right now. ♪ >> are you supposed to tip the teacher. >> dave: some are, some are not. >> you want to err on the side of tipping and is it too much. do you tip the garbage man or the postal employee. you leave a bunt cake outside. >> alisyn: yes, money. they want money. >> dave: we'll get into it later, but it's tough because it used to be you tip someone for extraordinary service. >> alisyn: right. >> dave: now you just tip so
we're days from falling off the fiscal cliff and the congress is blaming for inaction. >> it's unacceptable to hold the middle tax cuts hostage simply because they refuse to let the tax rates go up on the wealthiest americans. >> the republicans call this a bait and switch. >> alisyn: we'll debate. >> dave: one massachusetts town rolling out the welcome mat to long islanders for christmas tree lighting after the they refused to budge on the holiday event. the p.c....
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>> i actually think we are going to get a resolution to the fiscal cliff. i think it is going to come after we go over. >> we could maybe see the beginnings of the contour of an eventual agreement. i don't see how it comes before december 31. >> it doesn't sound like the sides are closer. >> it is not a plan to say we are going to magically reduce our increased revenue through loop hole closures and deduction caps. we don't know who pays or what we are talking about in terms of actual legislation to increase revenue. >> and the market is responding. maybe it is best to forget it and focus on stock picking. >> two-week low this morning and then huge 2.36 million block share trades come in. >> "fast money" right now. >>> live from the nasdaq market site in new york city's times square i'm melissa lee. first china conundrum. is the chinese recovery in recovery mode? a top strategist is digging through the data. hedgefund head winds are supposed to be some of the smartest on the street but 2012 has not been kind. find out if december will bring rebound or redem
>> i actually think we are going to get a resolution to the fiscal cliff. i think it is going to come after we go over. >> we could maybe see the beginnings of the contour of an eventual agreement. i don't see how it comes before december 31. >> it doesn't sound like the sides are closer. >> it is not a plan to say we are going to magically reduce our increased revenue through loop hole closures and deduction caps. we don't know who pays or what we are talking about in...
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. -- i do think we need to go over the fiscal cliff. host: here is the story from the "new york times" today. we are talking about the fiscal cliff negotiations and whether compromise or sticking to principles should be what members of congress and the president should do here. a couple of weets this morning. when leaders say -- when people say leaders should stick to their principles, they mean leaders should stick to my principles. a lot of columns this morning talking about this issue, the ongoing fiscal cliff negotiations. here is "the washington post." we are taking your thoughts on the issue. but gutted the independent line. welcome to the "washington journal." caller: i agree also with a caller on the democrat line. i agree with what he was referring to -- c-span changing a with bias. the issues, they did not talk about it. the ones who are behind it are the political parties. the industrial military complex host: if the country does off of the fiscal cliff, who do you think it's more of the blame on this? it is the president of
. -- i do think we need to go over the fiscal cliff. host: here is the story from the "new york times" today. we are talking about the fiscal cliff negotiations and whether compromise or sticking to principles should be what members of congress and the president should do here. a couple of weets this morning. when leaders say -- when people say leaders should stick to their principles, they mean leaders should stick to my principles. a lot of columns this morning talking about this...
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now as president obama fights congress in a showdown over the coming fiscal cliff the president is using his extensive campaign network to push his agenda. let's talk about it with shane deapril the editor of "campaigns and elections magazine." the campaign arm of obama, all of those people are getting information about the fiscal cliff. >> yeah, one thing that happened after 2008 was that obama for america morphed into organizing in america and into the dnc. it played very little role in pushing the president's first term agenda. a lot of folks on the left and from within the white house thought that was a mistake looking back upon it. what we see right now is an immediate change. after the 2012 election ofa is engaging supporters, continuing to do so and clearly fighting this fiscal cliff battle and the white house wants to use that vast supportive base and its email list to pressure congress. jon: that event that the president had in the east room of the white house last week, where he invited people to stand behind him and they were all people who they stand to see their taxes go up
now as president obama fights congress in a showdown over the coming fiscal cliff the president is using his extensive campaign network to push his agenda. let's talk about it with shane deapril the editor of "campaigns and elections magazine." the campaign arm of obama, all of those people are getting information about the fiscal cliff. >> yeah, one thing that happened after 2008 was that obama for america morphed into organizing in america and into the dnc. it played very...
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memo, memo to the president and congress -- ♪ you are now screwing up this fiscal cliff stuff royally with your hard line positions and your ridiculous protestations that you can't compromise. here's why. we are close, very close right now, within our grasps, to becoming the leader of the world when it comes to technology, innovation, natural resources, and finance. you are the only thing standing in our way. you are our ball and you are our chain. we saw glimmers of it today. like today dow rallies 40 points, s&p gained .33%, nasdaq .52%. whether it's the ceos of the biggest of the big,or the smallest of the small. tonight's guest of lumber liquidators, the intransigence the mean-spirited debates, the pledge is not to raise taxes, it's costing this nation a once in a lifetime opportunity to reassert itself as the leader of the free world. and faster growing the repressive communist world to boot. your inability to give us a deal, any deal is crushing our economy. allow me to explain. since i read @jimcramer on twitter, people say i'm biased. i believe that the compromise which all th
memo, memo to the president and congress -- ♪ you are now screwing up this fiscal cliff stuff royally with your hard line positions and your ridiculous protestations that you can't compromise. here's why. we are close, very close right now, within our grasps, to becoming the leader of the world when it comes to technology, innovation, natural resources, and finance. you are the only thing standing in our way. you are our ball and you are our chain. we saw glimmers of it today. like today dow...
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they did it so we would do the responsible thing and that the sequestration, the fiscal cliff the responsible thin wouldn't happen but if we don't get from the american people, if they don't call their congress person, whether they are republican or democrat and tell us to move off the dime and get the job done, we call --. >>eric: what happens in what happens? i tell you what happens. all you guys on washington pat each other on the back and say we didn't go off the fiscal cliff and the debt goes from $16 trillion to $20 trillion a couple years down the road to $25 trillion. nothing changes in washington, dc. you tax. you still spend. maybe it is time to take the medicine congressman and go over the fiscal cliff and fix the problem. >>guest: there is no fiscal cliff. there is a fiscal slope. the earth doesn't stop spinning, the sun will come up, the moon will come up and we will have to do things in john. taxes will go up and the democratic party and hopefully some responsible republicans will vote to make certain that we remove this tax cut that would take place. >>eric: no talk about respo
they did it so we would do the responsible thing and that the sequestration, the fiscal cliff the responsible thin wouldn't happen but if we don't get from the american people, if they don't call their congress person, whether they are republican or democrat and tell us to move off the dime and get the job done, we call --. >>eric: what happens in what happens? i tell you what happens. all you guys on washington pat each other on the back and say we didn't go off the fiscal cliff and the...
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the fiscal cliff is upon us. now we see the two lead office of the report that out there again. -- authors of the report out there again. is the report is getting a new look these days? caller: allyson send an erskine bowles are the with- alan simpson -- alan simpson and erskine bowles are going around the country and speaking. the plan is full of compromises, compromises people do not like, but are necessary if you want to take on the problem. not to say that simpson-bowles has the best ideas. he framework touches all of the budget and it is the kind of framework you need. host: between then and now, what has changed to cause such a strong and serious look at the proposal? guest: thought of it is timing. political timing and economic timing. -- guest: part of it is timing, political timing and economic timing. we have the fiscal cliff facing us and the potential economically serious problems this will cause in terms of economic growth, unemployment and so forth. members of congress want to get something done. th
the fiscal cliff is upon us. now we see the two lead office of the report that out there again. -- authors of the report out there again. is the report is getting a new look these days? caller: allyson send an erskine bowles are the with- alan simpson -- alan simpson and erskine bowles are going around the country and speaking. the plan is full of compromises, compromises people do not like, but are necessary if you want to take on the problem. not to say that simpson-bowles has the best ideas....
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we still have no fiscal cliff deal, but there's talk between president obama and tim geithner. congress has adjourned for a long weekend. that's kind of insane. eamon javers joins us. >> reporter: the president began his day this morning before an audience of business leaders and he continued his campaign of persuasion amongst some of the nation's top ceos. >> i am passionately rooting for your success. because if the companies in this room are doing well, then small businesses and medium sized businesses up and down the chain are doing well. if companies in this room are doing well, then folks get jobs, consumers get confidence, and we're going to be able to compete around the world. >> and then larry, later in the afternoon, our steve leishman sat down with treasury secretary tim geithner. geithner in that interview late in the afternoon made it clear that this is brinksmanship of the highest order. >> i want to understand the administration's position when it comes to raising taxes on the wealthy. those making more than $250,000. if republicans do not agree to that, is the a
we still have no fiscal cliff deal, but there's talk between president obama and tim geithner. congress has adjourned for a long weekend. that's kind of insane. eamon javers joins us. >> reporter: the president began his day this morning before an audience of business leaders and he continued his campaign of persuasion amongst some of the nation's top ceos. >> i am passionately rooting for your success. because if the companies in this room are doing well, then small businesses and...
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that is how many civilian defense jobs are at risk if we go over the fiscal cliff. that's according to the center for strategic and budgetary assessments. >> the defense industry is sounding the alarm. dozens of industry leaders are in washington, d.c. taking their case to congress and the president and going over that cliff could be a threat to our national security. let's bring in david hess, president of pratt and whitney. david, how severe is the problem? critics will say that the defense industry has grown pretty much every year for the last 20 years and that we probably spend way too much on defense anyway. >> it's hard to understand that comment. quite honestly what often gets missed in the midst of this debate right now is we're already in the middle of step one of defense budget reductions. we're in the midst of under the budget control act which has already been passed, we're in the midst of a $487 billion defense spending reductions right now. you are seeing that in the headlines and some of the analyses -- >> sorry, david, are those real reductions or ar
that is how many civilian defense jobs are at risk if we go over the fiscal cliff. that's according to the center for strategic and budgetary assessments. >> the defense industry is sounding the alarm. dozens of industry leaders are in washington, d.c. taking their case to congress and the president and going over that cliff could be a threat to our national security. let's bring in david hess, president of pratt and whitney. david, how severe is the problem? critics will say that the...
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on the fiscal cliff standoffs. you're watching "weekends with alex witt." with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! let's see if we can get the same item at walmart for less? okay. fijit friends. fifteen bucks on rollback. wow! that's a savings of over 29 bucks! twenty-nine bucks!!?? and they're powered by friendship. see for yourself if you could save on
on the fiscal cliff standoffs. you're watching "weekends with alex witt." with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back...
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about how to deal with the fiscal cliff, and our long term deficit challenges. we have yet to see even an acknowledgement of republican leaders of the fact that there is no deal that does not include rates going up on top earners. as the president said in the interview you cited and said before, he doesn't hold the position because it's inherently good orments to punish wealthy americans, but holds it because it's mathematically sound. it's an absolute fact there's no way to achieve balance in a broad deficit reduction package, a balance that requires significant revenues without rates going up on top earners. you cannot achieve it through promised closing of loopholes or capping of deductions, and you certainly can't achieve it through the kind of vague proposal that we see from republicans which contains no specificity whatsoever, not a single deduction named or loophole identified to be close so rates have to go up. the president believes that, and it's part of the proposal that his team put forward to congress that we need to have a frame work here that envi
about how to deal with the fiscal cliff, and our long term deficit challenges. we have yet to see even an acknowledgement of republican leaders of the fact that there is no deal that does not include rates going up on top earners. as the president said in the interview you cited and said before, he doesn't hold the position because it's inherently good orments to punish wealthy americans, but holds it because it's mathematically sound. it's an absolute fact there's no way to achieve balance in...
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the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal cliff landscape? >> they are trying to trade around perceived outcomes. that is fairly treacherous. we don't get a sense that a lot of investors are doing that -- [talking over each other] liz: there were buying in on the dips because they are trading around he headlines. >> there's a lot of tax related strategy happening right now, many of which make a lot of sense, but i have asked the question of loss, what would you put money on a particular outcome? i wouldn't. that is a dangerous strategy. >> one scenario could be as damaging as another. we can gain that at this point, what shou
the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal...
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caller: i am calling in reference to this fiscal cliff. at this point, all the seniors are already in trouble. they are not going to get but a little increase. congress will automatically get a raise. theys hould stop that. they don't need the money anymore. they have plenty. obama is going to have his way, and that's it. host: can you hang on the line? let me get your reaction from larry duncan on twitter who says -- what do you think, margaret? caller: i think that is correct. there are a lot of loopholes but they do not want to do this. they are happy because they are getting this extra money. if obama gets -- i don't have a charge card. i am paying off all my debt. we should pay off all large debt. how much are we paying for this debt that we go? that is a waste. why should anyone else do it? congress.s stick with here is "the washington times" -- look for our coverage on c-span2 for the senate floor proceedings. yesterday, a headline in "the washington times" -- president obama sending out this tweet -- then, she took to twitter to re
caller: i am calling in reference to this fiscal cliff. at this point, all the seniors are already in trouble. they are not going to get but a little increase. congress will automatically get a raise. theys hould stop that. they don't need the money anymore. they have plenty. obama is going to have his way, and that's it. host: can you hang on the line? let me get your reaction from larry duncan on twitter who says -- what do you think, margaret? caller: i think that is correct. there are a lot...
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no progress on the fiscal cliff and no plans to even talk about it. when will the white house and congress get serious about making a deal? tracy: on december 31st. dennis: the president is taking to twitter. we'll the latest all hour. tracy: fears of higher taxes caused tax-free muni bonds to popularity but is it too late to find any bargains? jack hough says no. he tells us where the deals are. dennis: the looming fiscal cliff doesn't seem to stop americans from buying new cars. edmunds analyst jessica caldwell breaks down a surprising strong month for automakers but will it last? tracy: time to check stocks as we do every 15 minutes. we head down to the lauren simonetti on the floor of the new york stock exchange. they are slipping but just off the lows of the day. >> off the lows of the day. but the dow and s&p 500 giving up about a third of a percent each right now. the nasdaq is down three points. off the lows. the low for the dow this session is 12,969. we're a little above it but seems like the market wants to end the day in the red. we got co
no progress on the fiscal cliff and no plans to even talk about it. when will the white house and congress get serious about making a deal? tracy: on december 31st. dennis: the president is taking to twitter. we'll the latest all hour. tracy: fears of higher taxes caused tax-free muni bonds to popularity but is it too late to find any bargains? jack hough says no. he tells us where the deals are. dennis: the looming fiscal cliff doesn't seem to stop americans from buying new cars. edmunds...
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now congress will come back to work next week hopefully to get a fiscal cliff deal. >> maybe the movie "lincoln" will inspire senators to work together. a special screening is scheduled for december 19th. senate aides said they will not screen the movie on the senate floor but somewhere else. >> michelle obama has said over and over again she never wants to run for office but a new poll shows her leading senator mark kirk in a very hypothetical matchup. the illinois republican had a stroke last year. >> tonight the entire obama family will gather around the christmas tree. it just happens to be the national christmas tree. it will take place at 5:00 eastern time. >> if you read only one thing this morning, maybe you're already thinking about your new year's resolution to get in better shape. how could you resist this headline? my must read is courtesy of prevention magazine. it's on facebook/jansingco. yep, they're real. we've got more rollbacks on toys all december. wait, was that real? [ male announcer ] this christmas, get the hottest brands and rollbacks on the season's hottest toy
now congress will come back to work next week hopefully to get a fiscal cliff deal. >> maybe the movie "lincoln" will inspire senators to work together. a special screening is scheduled for december 19th. senate aides said they will not screen the movie on the senate floor but somewhere else. >> michelle obama has said over and over again she never wants to run for office but a new poll shows her leading senator mark kirk in a very hypothetical matchup. the illinois...
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what do you think should be hopping here to get a deal to avoid the fiscal cliff happening? >> i have no doubt that people are working hard to get a deal. we have the president re-elected and have a new congress, think it's right they get down to the business of sorting this out. i think america's got to think that what it needs to do is get growth in its economy, as well. and it needs to get growth by trade and exporting. and i think what we're missing at the moment is a global agreement whereby the big powers try to work on the economy. you have to have fiscal problems and you also have to have growth. that's the key for the future. there's a global deal waiting to be done, with china, europe, india also involved in this, and of course, america itself, where we could build the confidence that's necessary to get high levels of growth around the world. >> finally, gordon brown, i couldn't let you go without asking your view of the single biggest news story to hit the planet in the last week. it is, of course, the royal baby. >> it's incredibly important that we give them the
what do you think should be hopping here to get a deal to avoid the fiscal cliff happening? >> i have no doubt that people are working hard to get a deal. we have the president re-elected and have a new congress, think it's right they get down to the business of sorting this out. i think america's got to think that what it needs to do is get growth in its economy, as well. and it needs to get growth by trade and exporting. and i think what we're missing at the moment is a global agreement...
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cliff will be averted. one. the capital markets will make members of congress. it is of power for all force >>guest: we saw that with the t.a.r.p controversy. if you think you are in or not, ar
cliff will be averted. one. the capital markets will make members of congress. it is of power for all force >>guest: we saw that with the t.a.r.p controversy. if you think you are in or not, ar
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. >> we've all heard about this fiscal cliff. that's the convergence of higher tax rates and, of course, all the spending. >> both parties, democrats and the republicans need to come together. >> the our three branches of government, and congress, and the president are equal. and pretty much neither one has the right position for the country. >> i know that america is going to be a great country again. and that will fix the problems we have at home, and bring together the two parties that are dividing the country, and fighting for different things. i know that this is going to happen. >> we're only going to get out of this together. we're not going to get out of it as a democrat. we're not going to get out of it as republican. we're going to get out of it as an american. >> thank you, ed. thank you, joan. we're going to get on with a program right now. let the introduce the moderator of that program, ron brownstein. on its editorial director of the "national journal," which means he oversees all the little coverage coming out of
. >> we've all heard about this fiscal cliff. that's the convergence of higher tax rates and, of course, all the spending. >> both parties, democrats and the republicans need to come together. >> the our three branches of government, and congress, and the president are equal. and pretty much neither one has the right position for the country. >> i know that america is going to be a great country again. and that will fix the problems we have at home, and bring together...
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this morning we also had a look at the fiscal cliff. host: we're looking at different pass expects of the fiscal cliff. today we turn our attention to the alternative minimum tax and the patch that could come from congress if they're able to work out a deal. if they do nothing this will impact 30 million americans. joining to us discuss is georgetown law's john buckley. thank you for being here. john buckley, let's begin. what is the alternative minimum tax? guest: in very simple terms, the alternative minimum tax requires you to pay the greater of what you pay under the regular income tax or what you would compute under the minimum tax which has a slightly broader base. it disallows some deductions that would be allowed in the regular tax. in some respects it's very similar to cap on itemized deductions that's currently being discussed. rather than directly attack preferences in expenditures it essentially puts an overall cap on benefit. there's no new ideas in this debate. the cap bears a very strong relationship to how the alternativ
this morning we also had a look at the fiscal cliff. host: we're looking at different pass expects of the fiscal cliff. today we turn our attention to the alternative minimum tax and the patch that could come from congress if they're able to work out a deal. if they do nothing this will impact 30 million americans. joining to us discuss is georgetown law's john buckley. thank you for being here. john buckley, let's begin. what is the alternative minimum tax? guest: in very simple terms, the...
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the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of all different sorts and what do you make a particular loophole or not depends on where you said i think. there are lots of loopholes that are deductions are deductions are the ones that most people are most familiar with. the big itemize deductions are things like a home mortgage interest deduction. there is a deduction for state and local taxes is very important. the deduction for charitable contributions is real important. there's all kinds of other breaks that exist in a tax code that people are less familiar with. there were some of those people aren't aware that all that are very big and important. for in
the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of...
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he says the fiscal cliff shouldn't be a big issue and if businessmen go into the room they could solve the problem an awful lot faster than congress. ken cayman is president of macadian asset management. i presume you share the sentiments -- i think we probably all do share the sentiments of mr. kravis. what would you do? >> well, listen, i think when you look at how businessmen make decisions, they have to live with the outcome of the decisions. politicians unfortunately make one decision, move on, and make another one. they don't live and die by any one decision. so i actually agree. ic that if all they did was have to focus on this one issue, we'd get a better result. but that's not the way government works. they get briefed on economic stuff one minute and they run into a meeting and get briefed on the mating habits of a spotted owl or some other cause that they'll be asked to vote on later in the day, too. it's just the way our government works. >> whatever happens, we'll probably get some tax changes here, which investors are going to matter. which ones are the standout and how m
he says the fiscal cliff shouldn't be a big issue and if businessmen go into the room they could solve the problem an awful lot faster than congress. ken cayman is president of macadian asset management. i presume you share the sentiments -- i think we probably all do share the sentiments of mr. kravis. what would you do? >> well, listen, i think when you look at how businessmen make decisions, they have to live with the outcome of the decisions. politicians unfortunately make one...
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the congress put the fiscal cliff in place so we would resolve that issue right now -- that is what we need to do. >> mark, do you want to take the first question? >> you raise a great point. this is where people's eyes glaze over -- these numbers can say whatever you want to say, but the notion, and this is where i would disagree with margaret's approach a little bet -- i do think there'll be a relationship between revenues and entitlements. if we need to go bigger, we need to push all of those. there are some who say, the idea that the american people is going to buy into this notion of, ok, we will let these taxes go up. then we go through this magical witching hour -- 90% disapproval go up to 99% disapproval. he will have general consensus that you have to get north of three -- you do this, you will get 500 in interest savings alone. they should not be as challenging as it is. the onlyr thing -- thing i would disagree with bob a level that is on the fact that, i have been a huge advocate and continue to be a huge advocate of the tax reform debate. it is a critically important piece
the congress put the fiscal cliff in place so we would resolve that issue right now -- that is what we need to do. >> mark, do you want to take the first question? >> you raise a great point. this is where people's eyes glaze over -- these numbers can say whatever you want to say, but the notion, and this is where i would disagree with margaret's approach a little bet -- i do think there'll be a relationship between revenues and entitlements. if we need to go bigger, we need to push...
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cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first direct talk in almost a week. but today white house spokesman jay carney wouldn't share details of the call. >> we believe it's in the interest of achieving an agreement not to do that. >> reporter: treasury secretary timothy geithner said yesterday the white house was absolutely willing to go over the cliff if republicans held firm in their opposition to raising rates on the wealthy. but it was the administration's other
cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going...
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negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that
negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what...
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less than a month ago before this fiscal cliff deal. dennis kneale is coming up with tracy byrnes. they have a little tea party talk themselves. diane black will join them. lori: trusting car salesman before they trust their congress people. stay with "markets now." ♪ >> announcer: u never know when, but thieves can steal yourdentity and turn your life upside down. >> hi. >> hi. you knowi can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, steang your credit, your money and ruining your reputation. that's why you need lilock to relenessly protect what matters most... [beeping.] helping stop crooks before annow you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost mcredit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after t
less than a month ago before this fiscal cliff deal. dennis kneale is coming up with tracy byrnes. they have a little tea party talk themselves. diane black will join them. lori: trusting car salesman before they trust their congress people. stay with "markets now." ♪ >> announcer: u never know when, but thieves can steal yourdentity and turn your life upside down. >> hi. >> hi. you knowi can save you 15% today if you open up a charge card account with us. >>...
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broadly described under the umbrella of the terminology, fiscal cliff. when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal cliff would jeopardize the economic recovery. it would do that by increasing taxes on families, halting employment growth, driving unemployment up instead of down, triggering a deep cuts to programs that families across the country count on. the job before the united states congress is to reach an agreement that builds on the economic progress that we are making, and puts us on a path to fiscal stability. we need to cut more spending, and generate more revenue. we need to do it in a smart way that keeps our economy growing. earlier this year, congress extended the payroll tax cut through 2012. the two perce
broadly described under the umbrella of the terminology, fiscal cliff. when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal cliff would jeopardize the economic...
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a lot of this will depend on what we get this week on fiscal cliff negotiations. risk appetite is really be holden to that at the moment. and the reality is we're more likely to see congress delay another week or two before they really get going on the negotiations just before christmas. and so against that kind of backdrop, euro-dollar may struggle to break higher and definitely to break lieuthrough 1.31. >> adam, you're in washington. how do you view fiscal cliff discussions? >> i was pretty optimistic until about three days ago. my sense was republicans had lost enough ground, they wanted to get a new deal before they got weaker. they admitted that there has to be some revenue. meanwhile the obama team led by secretary geithner are comfortable with at least 2:1 what they would call entitlement cuts. so there was a lot of ground for a deal. unfortunately, i think the threats from some democratic leaders that maybe it's okay to go over the fiscal cliff, i'm worried some actually believe that and that's one thing that scares me. i think there's a deal on the table
a lot of this will depend on what we get this week on fiscal cliff negotiations. risk appetite is really be holden to that at the moment. and the reality is we're more likely to see congress delay another week or two before they really get going on the negotiations just before christmas. and so against that kind of backdrop, euro-dollar may struggle to break higher and definitely to break lieuthrough 1.31. >> adam, you're in washington. how do you view fiscal cliff discussions? >> i...
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the president and the democrats in congress are willing to go over the fiscal cliff in order to get those tax hikes. rather than negotiate in good faith, they're willing to try to spend their time trying to convince the american people that it's just someone else's fault. going over the fiscal cliff will mean another recession, and this one is squarely on the shoulders of president obama. it will mean unemployment spiking back up over 9%. it will also mean a whole host tax increases, even beyond the higher tax rates that washington democrats want so badly. americans are also facing big increases in the death tax and the alternative minimum tax, also known as the a.m.t. both of these taxes will go up january 1 unless democrats work with republicans and take action to stop the increases that are already scheduled to occur. now, there's bipartisan agreement that these taxes should not be raised. there is bipartisan agreement that these taxes will do great damage to middle-class families, to family businesses, and to family farms. any effort to stop these harmful tax increases is being held u
the president and the democrats in congress are willing to go over the fiscal cliff in order to get those tax hikes. rather than negotiate in good faith, they're willing to try to spend their time trying to convince the american people that it's just someone else's fault. going over the fiscal cliff will mean another recession, and this one is squarely on the shoulders of president obama. it will mean unemployment spiking back up over 9%. it will also mean a whole host tax increases, even...
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Dec 6, 2012
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cliff. they said by the way we need to raise the debt limit and this new proposal of eliminating congress from the process of raising the debt limit. >> senator mcconnell has offered to have an up or down vote on this and democrats haven't taken him up on it. all of the spending reductions that simon cited in the 1990s were tied to the debt limit increase. it gives republicans leverage. president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this debt. we keep spending and spending and raising our debt by $6 tri
cliff. they said by the way we need to raise the debt limit and this new proposal of eliminating congress from the process of raising the debt limit. >> senator mcconnell has offered to have an up or down vote on this and democrats haven't taken him up on it. all of the spending reductions that simon cited in the 1990s were tied to the debt limit increase. it gives republicans leverage. president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the...
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Dec 10, 2012
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you're trying to do all these other things and waiting for congress to fix the fiscal cliff and it hasn't quite happened yet. i mean what do you -- what do do you? i don't even know what some of these folks can do. >> can we switch gears? >> yeah, let me tell you about the fcc? >> sure. >> do you want to talk on your phone on the plane? >> yes, i do. >> i'm not sure i want everybody else to talk on the plane. >> put on the head phones. >> the top person at the fcc, the fcc chairman said on friday that the faa's policy on in-flight electronics bans is in question. 20 years of research doesn't show any kind of messing up with the planes and navigation of the systems. why is it in place? i think we're moving down this road. >> so no more cheating? no more people sitting with their blackberries. >> turn everything off. i think it's a great idea. charter planes allowed only. it doesn't interfere. >> must be nice to fly on charter. >> i know this because i know someone who flies charter. i have another question for you. i said you would like this. this is in florida. the discounted tuition for
you're trying to do all these other things and waiting for congress to fix the fiscal cliff and it hasn't quite happened yet. i mean what do you -- what do do you? i don't even know what some of these folks can do. >> can we switch gears? >> yeah, let me tell you about the fcc? >> sure. >> do you want to talk on your phone on the plane? >> yes, i do. >> i'm not sure i want everybody else to talk on the plane. >> put on the head phones. >> the top...
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Dec 8, 2012
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we are here debating a fiscal cliff. we're here debating direction of america, we were going to go financially. very responsible ability as members of congress. we are the stewards of public funding. it's rightfully have this hearing again and i vitiated. in december when i came, at least a couple issues. we want to invest in infrastructure. one america to move quickly in the best ways possible. what you want from you also need a plan for her. if the networks, a planned test it, it's an audited in a plan that has a review. i happen to come from california. the happiness in the area and many of you talk about. it's part of where it began. i have ruled out of viability, cost and with them and come in this will ever that is why i joined the chairman, mr. denham, mr. miller at the gao, asking for an audit and review of the business plan in california. a look forward to hearing testimony later through corporatists completed. today it has been billions of dollars. as concerns about the business plan itself an equally concernin
we are here debating a fiscal cliff. we're here debating direction of america, we were going to go financially. very responsible ability as members of congress. we are the stewards of public funding. it's rightfully have this hearing again and i vitiated. in december when i came, at least a couple issues. we want to invest in infrastructure. one america to move quickly in the best ways possible. what you want from you also need a plan for her. if the networks, a planned test it, it's an audited...
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i don't think it matters to your point what happens with the fiscal cliff. the economy is at stalemate. unemployment, we look at jobs report tomorrow, is dismal. we're liking inflationary environment down the road. this is bad news. >> you could could make the argument invite blowing past short term helpful, long term payne full. melissa: spending cuts, tax hikes are very dramatic going over the cliff. when you look at numbers, still is like five to one raising taxes to cutting spending. >> that's right. melissa: no one is really talking about cutting spending. isn't that the first thing you would do? if your fiscal house was in such disarray, household at home, first thing you do is stop spending. no one is doing that. >> what scares me, is that point. whether you agree or disagree hiking taxes i am not a fan of it but i think it will come. we can get past this. charlie gasparino and i have argued this. one of the consequences of the election the president will probably get his way raising most rates. melissa: right. >> i'm not saying i'm a fan. let's get p
i don't think it matters to your point what happens with the fiscal cliff. the economy is at stalemate. unemployment, we look at jobs report tomorrow, is dismal. we're liking inflationary environment down the road. this is bad news. >> you could could make the argument invite blowing past short term helpful, long term payne full. melissa: spending cuts, tax hikes are very dramatic going over the cliff. when you look at numbers, still is like five to one raising taxes to cutting spending....
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cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going to suburban virginia to speak to a middle-class family and he will press congress to protect those making less than $250,000 a year from tax increases by raising rates on those making more. in washington it is the same fight. >> president obama, democrats in congress have ever been ambiguous, provide economic security for 90% of american families and 97% of small businesses asking the wealthiest 2% to contribute just a little more to stop this runaway debt. >> what the president is really interested in as we learned just yesterday he is getting as much taxpayer money as he can first by raising taxes on
cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going...
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Dec 7, 2012
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jake sherman with politico following what's the latest on the congress and particularly on the fiscal cliff front. jake, good to have you back. >> thank for having me. >> stan colander a good friend frequent guest. we call him "the budget guy." with the job numbers coming up a little later in the hour we want stan standing buy. >> did you say an army of operators? is that what dick army is doing? i was wondering. >> he made the million dollar pay out. >> 8 markos moulitsas. >> dick army leaving freedom works be, jim demint leaveing the senate. >> it's been a tough month for republican leaders. >> it has indeed. it was a tough day yesterday for mitch mcconnell in the u.s. senate. i don't know whether you heard. he ended up filibustering his own bill yesterday which was pretty embarrassing for mitch mcconnell. he had to take the insults from harry reid who said the republicans are like clueless or like without a rudder or maybe without at quarterback. here is harry reid showing some spots knowledge here. >> now to the new york jets coach ryan he's got a problem. he has three quarterback
jake sherman with politico following what's the latest on the congress and particularly on the fiscal cliff front. jake, good to have you back. >> thank for having me. >> stan colander a good friend frequent guest. we call him "the budget guy." with the job numbers coming up a little later in the hour we want stan standing buy. >> did you say an army of operators? is that what dick army is doing? i was wondering. >> he made the million dollar pay out. >>...
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Dec 6, 2012
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on the administration for resolving the fiscal cliff and there are a couple of findings i want to run through. first of all there is more public pressure on republicans to compromise than on democrats. if you look at the results of the survey, 20% of americans say the message of the election was that republicans need to compromise with the president. 9% said that the message was that president obama needs to compromise and the plurality, 44% said both ought to compromise. those results aren't so surprising because president obama won the election but if you look at the number who would be to blame if we don't get a deal, you see 21% blame the president and democrats in congress, 23% blame republicans, pretty even, 52% says they blame both of them. some other surveys have shown president obama with a stronger hand. we looked democrats in congress together with the president, any time you lump congress in a question it drags down the number. finally if you look at the intense partisan split on outlooks for the economy, this is something that is relevant as we try to measure the pessimis
on the administration for resolving the fiscal cliff and there are a couple of findings i want to run through. first of all there is more public pressure on republicans to compromise than on democrats. if you look at the results of the survey, 20% of americans say the message of the election was that republicans need to compromise with the president. 9% said that the message was that president obama needs to compromise and the plurality, 44% said both ought to compromise. those results aren't...
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Dec 9, 2012
12/12
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cliff. who has the most, should gridlock prevail. >> heather: daring rescue mission in afghanistan to save an american citizen. we have the incredible story. >> gregg: a court appearance for an n.f.l. star accused of driving intoxicated and killing a teammate. we're live in texas. >> heather: we begin with the countdown to a potential economic disaster. the edge of the fiscal cliff looming larger as the clock ticks toward the deadline on january 1st. negotiators are trying to hammer out a deal over tax hikes and spending cuts searching for common ground. amid all the back and forth there are signing of a compromise. steve centanni is live in washington. are the two sides any closer together? >> reporter: there are two important signs today. speaker, house speaker john boehner met with president obama at the white house today. we don't know how long they met or exactly what they talked about, but the white house says lines of communication are open and face-to-face meeting is on important. at
cliff. who has the most, should gridlock prevail. >> heather: daring rescue mission in afghanistan to save an american citizen. we have the incredible story. >> gregg: a court appearance for an n.f.l. star accused of driving intoxicated and killing a teammate. we're live in texas. >> heather: we begin with the countdown to a potential economic disaster. the edge of the fiscal cliff looming larger as the clock ticks toward the deadline on january 1st. negotiators are trying to...
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ashley: the president meeting with governors on the fiscal cliff, we spoke to the governor herbert earlier but as the clock ticks down for january 1st, is the president wasting time? the next guest thinks so. douglas holtz-eakin will be joining us next. tracy: look at today's winners and losers on nasdaq as we head to break. is netflix up top again, green mountain coffee doing okay as well and your losers, wind and resorts, we were just talking about those casinos. we will be right back. ashley: president obama digging deeper on its fiscal cliff stopped earlier today saying we won't cut our way out of this deficit and it starts with raising tax rates on the wealthy but my next guest says this rhetoric could drive us right over that cliff. joining me now is douglas holtz-eakin, former director of the congressional budget office. and it -- you know your numbers, we know the fiscal cliff is going to have a huge impact if we go over it on this economy. before we get into the details are we in real danger of doing that? >> absolutely. this is an enormous heights in taxes, big cuts in spending,
ashley: the president meeting with governors on the fiscal cliff, we spoke to the governor herbert earlier but as the clock ticks down for january 1st, is the president wasting time? the next guest thinks so. douglas holtz-eakin will be joining us next. tracy: look at today's winners and losers on nasdaq as we head to break. is netflix up top again, green mountain coffee doing okay as well and your losers, wind and resorts, we were just talking about those casinos. we will be right back....
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the program. >> reporter: and of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. treasury secretary timothy geithner said the president is absolutely welling to go off the cliff unless republicans agree to raise tax rates. >> there is no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. only 2%. >> reporter: on that no progress. >> where are the specifics? where are the discussions? nothing is going on. >> reporter: there have been no real talks between the white house and republicans for a week, but they say one sign of progress, the president and the speaker of the house spoke via telephone. neither side would give any details about what was said. the stock market closed higher with traders optimistic a deal will be reached. jonathan karl, abc news, washington. >> amazing a phone call can calm the markets. impressive here. what i thought was interesting. we talked how the house is scheduled to go on vacation the 14th of the month. so actually there is a tighter deadline than
the program. >> reporter: and of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. treasury secretary timothy geithner said the president is absolutely welling to go off the cliff unless republicans agree to raise tax rates. >> there is no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. only 2%. >> reporter: on that no progress. >> where are the specifics? where...
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Dec 4, 2012
12/12
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. >>> half a dozen governors are headed to the white house to talk about the fiscal cliff. they will tell the president that failing to come to an agreement will leave the states with the bill. after that they'll be going on to meet with some of the leaders in congress to make their same points there and we'll see what happens out of this. the markets have been watching just about every headline and trying to see what happens on this physical cliff issue. the "doubt" futures are up about 21 points. yesterday, though, we saw the markets close at the lows of the day. the dow down about 60 points on some of these concerns that, again, all of these issues still have quite aways to go before they reach any sort of deal. >>> overseas in asia you can see that the markets there, there were some marginal gains when you look at the hang seng. and the shanghai was up by 0.8, and in korea, it was down. and in europe, the green arrows, and the biggest gains in france with the cac up 0.75%. >>> facebook looks to grow its mobile business. julia boorstin has the news and what it means for
. >>> half a dozen governors are headed to the white house to talk about the fiscal cliff. they will tell the president that failing to come to an agreement will leave the states with the bill. after that they'll be going on to meet with some of the leaders in congress to make their same points there and we'll see what happens out of this. the markets have been watching just about every headline and trying to see what happens on this physical cliff issue. the "doubt" futures...
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Dec 3, 2012
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. >>> congress heads back to work this morning as the clock is ticking down toward the impending fiscal cliff. talks, though, seem to be at a stalemate. yesterday with just 29 days until tax hikes and deep spending cuts kick in. both republicans and the democrats were running to the airwaves to try to explain their positions. here's what they said. >> what we're not going to do is extend those tax cuts with the wealthiest americans. those cost a trillion dollars over ten years and there's no possibility that we're going to find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> the administration has presented a plan that calls for $1.6 trillion in new tax revenues. $400 billion in cuts to medicare and other entitlements. $50 billion for a new stimulus and congress would have to give up control over raising the d
. >>> congress heads back to work this morning as the clock is ticking down toward the impending fiscal cliff. talks, though, seem to be at a stalemate. yesterday with just 29 days until tax hikes and deep spending cuts kick in. both republicans and the democrats were running to the airwaves to try to explain their positions. here's what they said. >> what we're not going to do is extend those tax cuts with the wealthiest americans. those cost a trillion dollars over ten years...